Endeavour Capital Advisors Inc. boosted its position in shares of Pacific Mercantile Bancorp (NASDAQ:PMBC) by 5.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,991,432 shares of the bank’s stock after buying an additional 107,482 shares during the quarter. Pacific Mercantile Bancorp makes up about 7.1% of Endeavour Capital Advisors Inc.’s holdings, making the stock its 4th biggest holding. Endeavour Capital Advisors Inc. owned about 8.57% of Pacific Mercantile Bancorp worth $17,425,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Deutsche Bank AG raised its holdings in Pacific Mercantile Bancorp by 62.6% during the 4th quarter. Deutsche Bank AG now owns 48,241 shares of the bank’s stock valued at $419,000 after buying an additional 18,576 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Pacific Mercantile Bancorp by 5.6% during the 4th quarter. Renaissance Technologies LLC now owns 516,000 shares of the bank’s stock valued at $4,515,000 after buying an additional 27,300 shares during the last quarter. Kennedy Capital Management Inc. bought a new stake in Pacific Mercantile Bancorp during the 4th quarter valued at $168,000. BlackRock Inc. raised its holdings in Pacific Mercantile Bancorp by 1.2% during the 4th quarter. BlackRock Inc. now owns 899,728 shares of the bank’s stock valued at $7,872,000 after buying an additional 11,028 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Pacific Mercantile Bancorp during the 4th quarter valued at $102,000. Institutional investors own 44.42% of the company’s stock.
Pacific Mercantile Bancorp (PMBC) opened at $9.30 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.10 and a quick ratio of 1.10. Pacific Mercantile Bancorp has a 1-year low of $6.85 and a 1-year high of $9.85. The company has a market cap of $216.74, a price-to-earnings ratio of 20.67 and a beta of 0.23.
PMBC has been the subject of several research reports. Hovde Group set a $10.00 price objective on shares of Pacific Mercantile Bancorp and gave the stock a “buy” rating in a report on Tuesday, January 30th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $10.50 price objective on shares of Pacific Mercantile Bancorp in a report on Friday, December 22nd. Finally, TheStreet lowered shares of Pacific Mercantile Bancorp from a “b” rating to a “c+” rating in a report on Tuesday, February 20th.
In other Pacific Mercantile Bancorp news, CAO Nancy A. Gray sold 7,000 shares of the company’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $9.10, for a total value of $63,700.00. Following the completion of the transaction, the chief accounting officer now directly owns 13,088 shares in the company, valued at approximately $119,100.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Md Thomas sold 8,595 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $8.50, for a total transaction of $73,057.50. Following the completion of the transaction, the director now owns 110,684 shares of the company’s stock, valued at $940,814. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 14,552 shares of company stock valued at $125,450 and sold 22,375 shares valued at $194,292. 3.60% of the stock is currently owned by corporate insiders.
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Pacific Mercantile Bancorp Profile
Pacific Mercantile Bancorp is the holding company for Pacific Mercantile Bank (the Bank). The Company’s business operations are conducted by the Bank. It operates through commercial banking segment. The Bank offers its customers different loan products, including commercial loans and credit lines, accounts receivable and inventory financing, Small Business Administration (SBA) guaranteed business loans, and owner-occupied commercial real estate loans.
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